Cornerstone Wealth Group LLC Has $3.53 Million Position in Republic Services, Inc. (NYSE:RSG)

Cornerstone Wealth Group LLC raised its position in shares of Republic Services, Inc. (NYSE:RSG) by 4.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,431 shares of the business services provider’s stock after purchasing an additional 846 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Republic Services were worth $3,528,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Bogart Wealth LLC purchased a new position in shares of Republic Services during the 4th quarter valued at $30,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Republic Services during the 4th quarter valued at $34,000. Jones Financial Companies Lllp grew its holdings in shares of Republic Services by 3,014.3% during the 4th quarter. Jones Financial Companies Lllp now owns 218 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 211 shares in the last quarter. BKM Wealth Management LLC purchased a new position in shares of Republic Services during the 4th quarter valued at $37,000. Finally, Bruce G. Allen Investments LLC bought a new stake in Republic Services in the fourth quarter worth $41,000. 57.73% of the stock is owned by institutional investors and hedge funds.

Republic Services Price Performance

Shares of Republic Services stock traded down $0.48 during midday trading on Friday, reaching $194.34. The company had a trading volume of 4,550,519 shares, compared to its average volume of 995,814. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $61.20 billion, a price-to-earnings ratio of 34.09, a price-to-earnings-growth ratio of 3.26 and a beta of 0.68. The stock has a fifty day simple moving average of $188.74 and a 200 day simple moving average of $181.23. Republic Services, Inc. has a 1-year low of $140.23 and a 1-year high of $196.76.

Republic Services (NYSE:RSG) last issued its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.10. Republic Services had a net margin of 11.81% and a return on equity of 17.56%. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter last year, the business posted $1.24 earnings per share. Republic Services’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities research analysts forecast that Republic Services, Inc. will post 6.05 earnings per share for the current year.

Republic Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be issued a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Tuesday, July 2nd. Republic Services’s dividend payout ratio is presently 37.54%.

Insiders Place Their Bets

In other Republic Services news, Director Katharine Weymouth bought 540 shares of the stock in a transaction on Tuesday, June 4th. The stock was purchased at an average price of $185.26 per share, with a total value of $100,040.40. Following the acquisition, the director now owns 540 shares of the company’s stock, valued at $100,040.40. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CMO Amanda Hodges sold 6,500 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $186.02, for a total value of $1,209,130.00. Following the sale, the chief marketing officer now directly owns 6,831 shares of the company’s stock, valued at approximately $1,270,702.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Katharine Weymouth acquired 540 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was bought at an average cost of $185.26 per share, for a total transaction of $100,040.40. Following the completion of the transaction, the director now directly owns 540 shares in the company, valued at approximately $100,040.40. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on RSG shares. Scotiabank upped their price objective on shares of Republic Services from $211.00 to $213.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 1st. Morgan Stanley lowered shares of Republic Services from an “overweight” rating to an “equal weight” rating and set a $199.00 target price for the company. in a research report on Friday, March 15th. Oppenheimer boosted their target price on shares of Republic Services from $202.00 to $204.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Royal Bank of Canada began coverage on shares of Republic Services in a research report on Monday, April 8th. They set a “sector perform” rating and a $198.00 price objective for the company. Finally, Jefferies Financial Group upped their price objective on shares of Republic Services from $213.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Republic Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.14.

About Republic Services

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.